Australia's Trade Deficit
Hit Record High in February

CANBERRA, Australia -- Australia posted a trade deficit of A$1.52 billion ($959.7 million) in February, the largest monthly deficit on record, the Bureau of Statistics said Tuesday.

The report caught analysts by surprise. Economists were expecting a goods-and-services deficit of A$1.00 billion for the month. The deficit widened from a revised deficit of A$1.35 billion in January on a seasonally adjusted basis.